Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US East Coast and Houston dock collection prices for ferrous scrap have risen this week on strong domestic markets. The growth follows rangebound to gradual increases over the past month, parallel to recent export activity.


The Davis Index for US HMS 1&2 (80:20) exports to Turkey have held firm since last week. The index for the grade stands at $501.82/mt cfr compared to $502.50/mt cfr last week on June 1. Longer-term, monthly activity now shows little change as compared to $502.50/mt cfr for the export grade on May 11. 


Dockside sales for #1 HMS on the East Coast are generally up about $5-10/gt and range between $370-405/gt on Tuesday based on dock location and base price from prior sales. Shredder feed, in highest demand is up $15-50/gt at various dockside locations, ranging between $310-340/gt.


In Boston, the weekly Davis Index for export yard #1 HMS inched up $5/gt to $373/gt and $6/gt for P&S 5ft to $384/gt delivered Boston dock. Shredder feed moved up $7/gt to $258/gt delivered Boston export yard. 


The weekly Davis Index for export yard buying prices in New York increased $12/gt for #1 HMS to $405/gt delivered, P&S 5ft rose $13/gt to $415/gt, and shredder feed soared $28/gt to $320/gt delivered New York dock. 


In Philadelphia, the Davis Index for export yard collection prices rose $10/gt for #1 HMS to $404/gt delivered and P&S 5ft rose $9/gt to $413/gt delivered Philadelphia dock. The index for shredder feed jumped up by $26/gt to $321/gt delivered. 


In Houston, the weekly Davis Index moved up $29/gt for #1 HMS to $414/gt delivered and moved up $34/gt for P&S 5ft to $442/gt delivered Houston dock. Shredder feed surged by $49/gt to $317/gt delivered. Houston dock prices jumped for the first time in about a month although domestic levels rose further.

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